British Politics in Disarray?

Posted Jun 30, 2016 by Martin Armstrong

The “remain” crowd thinks this is all over in Britain because Boris Johnson will not seek the PM position in the Tories, and this appears to be setting up for Theresa May to take the PM position.

One reader wrote a rather nasty comment:

“Your supposed ‘revolt’ will never materialize, as the English themselves are quietly hoping that the results of this inconclusive referendum will be slowly smothered! The average Brit is smarter than you think and they know that avoiding Brexit will not only avoid the break up of the UK but also avoid a financial calamity.”

Little do they realize, Britain is finished if it fails to extract itself from Europe. That is the financial calamity waiting to happen. Margaret Thatcher understood the real design of the EU way back in 1990. The “remain” camp is willing to sacrifice Britain to save Europe. They fail to understand that there is no democratic process in Brussels to ever exercise any vote. Merkel let the “refugees” in and there was no vote by Brussels. This was a complete, unilateral decision on her part in which no other nation agreed and the German people were never asked. It is hard to imagine why anyone would want to be part of a system where they are subjected to decisions by other leaders with no democratic process whatsoever. Guess they never heard of “no taxation without representation.”

Nevertheless, the “leave” camp won and the “remain” camp indeed remains against it. The fact that someone would even bother to send such an email demonstrates that there is a rift that will get worse with time. Theresa May has promised to appoint a BREXIT person. Yet, May is not entirely in the “remain” camp for she also agreed that there should be more controls on immigration. Indeed, May said she was approached to join the “leave” camp and understood the problem with immigration. So she is somewhat in both camps.

Meanwhile, the Labour Party is in disarray since the resignations against Jeremy Corbyn. Cameron has come out and said Corbyn should resign and “make way for someone with the backbone to confront antisemitism” after he appears to compare Israel to “various self-styled Islamic states and organisations.”

At the time of this posting, the pound is on the lows of the day at 13229 and the euro is at 11040.